Kakao-backed Dunamu pumped $46M in blockchain startups over the past year

“Korean Money Bill”, by YunHo Lee, is licensed under CC0 1.0

Thu, 16 May 2019, 08:44 am UTC

Dunamu, the company behind South Korea’s cryptocurrency exchange platform Upbit, announced on Wednesday that it has invested $46 million in 26 companies over the past year.

The investment was made primarily via its investment subsidiary Dunamu & Partners, which was launched in 2018. The latest announcement is part of the fintech firm’s 3-year plan to invest approximately $84 million into the blockchain industry.

“Our goal is to contribute to the healthy growth of blockchain ecosystem by actively investing in startups with world-class technology and services with potential for real-life implementation,” Ryan Lee, CEO of Dunamu and Partners, said.

The Kakao-backed firm strategically invested on firms that are into the development of core blockchain technology and services, services with strong blockchain application potential, and emerging technology in blockchain-adjacent fields including fintech and games.

The press release also revealed Dunamu’s plan to focus on three investment micro-trends this year. The firm said that it aims to concentrate on companies that will help increase the mainstream adoption of blockchain-based services and the emergence of mobile fintech services, as well as firms centered on individual content creators.

Meanwhile, just last March, Dunamu announced the launch of a consortium-based blockchain service platform Luniverse. This new platform will help IT companies and start-ups to develop blockchain-based services that they lack resources to set up on their own. It will offer cloud-based services for companies to build, host, and maintain a blockchain.